Weaver Capital Management LLC Has $2.30 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Weaver Capital Management LLC lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 13.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 43,115 shares of the network equipment provider’s stock after buying an additional 4,990 shares during the quarter. Weaver Capital Management LLC’s holdings in Cisco Systems were worth $2,295,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CSCO. Global Assets Advisory LLC bought a new position in Cisco Systems in the 1st quarter valued at $3,344,000. Brookstone Capital Management increased its position in Cisco Systems by 9.4% in the first quarter. Brookstone Capital Management now owns 55,083 shares of the network equipment provider’s stock worth $2,749,000 after purchasing an additional 4,712 shares during the period. Sovereign Financial Group Inc. raised its holdings in Cisco Systems by 16.5% during the 1st quarter. Sovereign Financial Group Inc. now owns 10,966 shares of the network equipment provider’s stock worth $547,000 after purchasing an additional 1,555 shares during the last quarter. GoalVest Advisory LLC lifted its position in Cisco Systems by 31.8% during the 1st quarter. GoalVest Advisory LLC now owns 29,127 shares of the network equipment provider’s stock valued at $1,454,000 after purchasing an additional 7,035 shares during the period. Finally, Key Client Fiduciary Advisors LLC boosted its stake in shares of Cisco Systems by 10.2% in the 1st quarter. Key Client Fiduciary Advisors LLC now owns 9,654 shares of the network equipment provider’s stock valued at $482,000 after purchasing an additional 893 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Up 0.0 %

Shares of Cisco Systems stock opened at $56.60 on Wednesday. The business’s 50 day simple moving average is $51.63 and its 200 day simple moving average is $48.71. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $57.06. The firm has a market cap of $228.03 billion, a PE ratio of 19.06, a P/E/G ratio of 4.22 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the prior year, the firm posted $1.01 EPS. The business’s revenue was down 10.3% on a year-over-year basis. On average, analysts predict that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 2.83%. Cisco Systems’s payout ratio is currently 53.87%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Citigroup upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their price objective for the company from $52.00 to $62.00 in a report on Wednesday, October 16th. Jefferies Financial Group reduced their price target on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Evercore ISI upped their price objective on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Rosenblatt Securities raised their target price on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Finally, Tigress Financial upped their price target on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $56.74.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the sale, the senior vice president now owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the sale, the executive vice president now owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock worth $3,509,049 in the last three months. Insiders own 0.02% of the company’s stock.

About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.